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Medical Properties Trust Announces Acquisition of Three Hospitals for $74 Million

^{Published on 2010-06-17 14:55:18 - Market Wire}
 

BIRMINGHAM, Ala.--([ BUSINESS WIRE ])--Medical Properties Trust, Inc. (NYSE: MPW) announced today that it has acquired the real estate of three inpatient rehabilitation hospitals in Texas for an aggregate purchase price of $74 million. The facilities, which are located in the Houston, Dallas and Austin metropolitan areas, are operated by and leased to affiliates of Reliant Healthcare Partners.

"We are already exploring opportunities to finance additional Reliant hospitals, which when considered with other properties in our acquisition pipeline, reaffirm our optimism about strong growth in our property portfolio."

The leases, which have initial terms expiring in 2033, provide for initial cash returns of 9.7% and periodic escalation of up to 1.67% on an annualized basis. Each lease may, subject to conditions, be renewed by the operator for two terms of 10 years each.

aWe are excited to begin a relationship with Reliant Healthcare, who operates hospitals that are state-of-the-art and located in excellent markets,a said Edward K. Aldag, Jr., MPTa™s Chairman, President and CEO. aWe are already exploring opportunities to finance additional Reliant hospitals, which when considered with other properties in our acquisition pipeline, reaffirm our optimism about strong growth in our property portfolio.a

About Medical Properties Trust, Inc.

Medical Properties Trust, Inc. is a Birmingham, Alabama based self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. These facilities include inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers and other single-discipline healthcare facilities, such as heart hospitals and orthopedic hospitals. For more information, please visit the Companya™s website at [ www.medicalpropertiestrust.com ].

The statements in this press release that are forward looking are based on current expectations and actual results or future events may differ materially. Words such as "expects," "believes," "anticipates," "intends," "will," "shoulda and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results of the Company or future events to differ materially from those expressed in or underlying such forward-looking statements, including without limitation the expected return on the investments on the properties located in Richardson, Round Rock and Shenandoah, Texas.For further discussion of the facts that could affect outcomes, please refer to the "Risk factors" section of the Company's Form 10-K for the year ended December 31, 2009, as amended, and as updated by our subsequently filed Quarterly Reports on Form 10-Q and our other SEC filings. Except as otherwise required by the federal securities laws, the Company undertakes no obligation to update the information in this press release.